• Most Popular
  • Most Shared

TEXT-Air NZ to raise short-haul int'l fares by 3 pct

Wed May 14, 2008 10:07pm EDT

(The following statement was released by the company)

WELLINGTON, May 15 - Air New Zealand's trans-Tasman and Pacific Island airfares are to rise by an average three percent as a result of ever increasing fuel prices.

The increase applies from 26 May for trans-Tasman airfares sold in Australia and New Zealand, and Pacific Island airfares sold in New Zealand and the Pacific Islands.

Air New Zealand signalled on 30 April when it increased domestic prices that trans-Tasman airfares were under review. Singapore jet fuel per barrel has increased by a further 12.5% since then from US$144 to today's price of US$162.

Air New Zealand regretted having to lift fares but could not continue to absorb the significantly higher cost of fuel, which this fare increase will only partially recover. The airline remains committed to driving costs within its control down in order to provide customers with everyday low airfares.



More from Reuters

An image of U.S. President Barack Obama is seen in an exhibition at the Nobel Peace Centre in Oslo December 9, 2009. Two leading international human rights groups gave Obama mixed reviews on his human rights record on Wednesday, a day before he is slated to accept the 2009 Nobel Peace Prize in Oslo. Human Rights Watch and Amnesty International urged Obama to use his acceptance speech on Thursday to renew U.S. leadership on human rights after its position was undermined by abuses committed during the Bush administration's war on terrorism. REUTERS/Chris Helgren

Copenhagen: What of Obama?

President Barack Obama’s decision to attend the climate talks in Copenhagen is said to show the White House is serious about pursuing a deal to curb global warming. What should Obama commit to on climate change? Share your views.  Full Article | Related Story 

    Climate Conference
    Tom Metzold, Vice President of Eaton Vance Management and Senior Portfolio Manager at Eaton Vance, speaks at the Reuters Global Media Summit in New York, December 9, 2009. REUTERS/Brendan McDermid

    "Everything's not hunky-dory"

    Did the worst downturn in 70 years leave a permanent scar? Top money managers like Tom Metzold examine how a "new normal" will shape things to come.  Full Article 

    Investment Outlook Summit
    A crown in a file photo. REUTERS/File
    Special Report:

    No longer king of the hill

    When times were good, hedge fund managers could do what they wanted and people still lined up for a piece of the action. What will the post-crash, post-Madoff, post-Galleon hedge fund universe look like?  Full Article 

    Hedge Funds